Insights Hub

retail

TM Lewin has entered administration for the second time since the pandemic began. The menswear retailer moved online after its first administration in June 2020, but continued home working and pandemic restrictions severely reduced demand for suits and tailoring, putting a strain on officewear and formalwear brands.

Homebase has partnered with Tesco to offer a range of its home and DIY products within Tesco supermarkets. The first shop-in-shop opened last week at the Tesco in Borehamwood, Hertfordshire, with further openings in London and Greater Manchester planned for April. The shop-in-shop locations will also feature kitchen, bathroom and lighting displays and offer click-and-collect facilities. Homebase chief executive Damian McGloughlin said: “We’re really excited to be partnering with Tesco, bringing our home and garden products and expertise to even more local communities. We’re always looking for ways to make it easier for customers to shop with us and teaming up with Tesco means we’re able to do just that.”

PROPERTY

British Land and Landsec are discussing an £800m asset swap. The deal would involve Landsec taking on British Land’s 50% stake in Sheffield’s Meadowhall shopping centre in return for ten retail parks. British Land has also received planning permission to build a warehouse next to Meadowhall. The discussions began last summer as both landlords sought to address uncertainty around the future of shopping centre and office space.